Bolivia’s Morales Vows to Respect Oil Company Assets

Bolivian President-elect Evo Morales pledged to respect the ownership of international oil companies’ assets in the country after campaigning to increase government control over the nation’s energy industry.

“The government will exercise its right to state ownership of Bolivia’s hydrocarbons,” Morales, 46, said at a press conference in Cochabamba, Bolivia broadcast by La Paz-based television station Bolivision. “That doesn’t mean confiscating or expropriating multinationals’ assets.”

Bloomberg